All things considered, stocks have taken the latest wrangling in Washington pretty well.

The federal government has been partially shutdown for 16 days and the Treasury’s imposed deadline to lift the debt ceiling is less than 13 hours away. And yet, the major stock indexes are up more than 1% apiece on Wednesday, are in positive territory for the month and are inching closer toward record highs.

Much of the latest drama in Washington has been compared to what transpired during the previous major debt-ceiling showdown in the summer of 2011. At least from the stock market’s perspective, the comparisons are a bit far-fetched.

“If the hour to hour up and down moves from the market in reaction to headlines coming out of Washington have you frustrated, just remember that it could be a lot worse,” Bespoke says, while noting that the latest reading is “actually much closer to its lows of the last three years than it is to its highs.”

The S&P 500 recently jumped 23 points, or 1%, to 1721, rising for the fifth time in the past six days. The rally leaves the benchmark index 0.2% away from its Sept. 18 record of 1725.52.